Dynamic Multilateral Markets

We study dynamic multilateral markets, in which players’ payoffs result from coalitional bargaining. In this setting, we establish payoff uniqueness of the stationary equilibria when players exhibit some degree of impatience. We focus on market games with different player types, and derive under mild conditions an explicit formula for each type’s equilibrium payoff as market frictions vanish. The limit payoff of a type depends in an intuitive way on the supply and the demand for this type in the market, adjusted by the type-specific bargaining power. Our framework may be viewed as an alternative to the Walrasian price-setting mechanism. When we apply this methodology to the analysis of labor markets, we can determine endogenously the equilibrium firm size and remuneration scheme. We find that each worker type in a stationary market equilibrium is rewarded her marginal product, i.e. we obtain a strategic underpinning of the neoclassical wage. Interestingly, we can also replicate some standardized facts from the search-theoretical literature such as positive equilibrium unemployment.Multilateral Bargaining, Dynamic Markets, Labor Markets

A Look Upstream: Electricity Market Restructuring, Risk, Procurement Contracts and Efficiency

This paper analyzes theoretically and empirically how upstream markets are affected by deregulation downstream. Deregulation tends to increase the level of uncertainty in the upstream market. Our theoretical analysis predicts that deregulated firms respond to this increase in uncertainty by writing more rigid contracts with their suppliers. Using the restructuring of the electricity market in the U.S. as our case study, we find support for our theoretical predictions. Furthermore, we investigate the impact this change in procurement contracts has on efficiency. Focusing on coal mines, we find that those selling coal to plants in restructured markets are significantly more productive than their counterparts working with regulated plants. On the other hand, we also find that transaction costs may have increased as a consequence of deregulation

Inducing stability in hedonic games

In many applications of coalition formation games, a key issue is that some desirable coalition structures are not elements of the core of these games. In these cases, it would be useful for an authority which aims to implement a certain outcome to know how far from the original game is the nearest game where the desirable outcome is part of the core. This question is at the center of this study. Focusing on hedonic games, we uncover previously unexplored links between such games and transferrable utility games, and develop a tailor-made solution concept for the transferrable utility game, the implementation core, to provide an answer to our question

Process Mining for Dynamic Modeling of Smart Manufacturing Systems: Data Requirements

Modern manufacturing systems can benefit from the use of digital tools to support both short- and long-term decisions. Meanwhile, such systems reached a high level of complexity and are frequently subject to modifications that can quickly make the digital tools obsolete. In this context, the ability to dynamically generate models of production systems is essential to guarantee their exploitation on the shop-floors as decision-support systems. The literature offers approaches for generating digital models based on real-time data streams. These models can represent a system more precisely at any point in time, as they are continuously updated based on the data. However, most approaches consider only isolated aspects of systems (e.g., reliability models) and focus on a specific modeling purpose (e.g., material flow identification). The research challenge is therefore to develop a novel framework that systematically enables the combination of models extracted through different process mining algorithms. To tackle this challenge, it is critical to define the requirements that enable the emergence of automated modeling and simulation tasks. In this paper, we therefore derive and define data requirements for the models that need to be extracted. We include aspects such as the structure of the manufacturing system and the behavior of its machines. The paper aims at guiding practitioners in designing coherent data structures to enable the coupling of model generation techniques within the digital support system of manufacturing companies

Basilar artery fenestration

The posterior circulation of the brain constitutes the vertebrobasilar system and its branches, which are responsible for about 30% of the brain’s blood supply. The aim of this study was to describe the anomalies of the basilar artery, especially fenestrations. For that purpose, we examined 50 patients with computed tomography (CT) angiography during an 8-month period. In the CT reports of 2 (4%) patients of the 50 analysed, fenestration was found at the proximal basilar trunk. The two fenestrations in our series were not associated with aneurysms. No collateral branches originated from the two limbs of the fenestration. In conclusion, basilar artery fenestrations are a rare finding. The data derived from this study are useful teaching material for anatomists, and for the radiologists and neurosurgeons they are important for diagnostic and intervention procedures such as CT, magnetic resonance imaging, angiography, and surgical and endovascular procedures. (Folia Morphol 2011; 70, 2: 80–83

Electoral Incentives and Firm Behavior: Evidence from U.S. Power Plant Pollution Abatement

Researchers have utilized the fact that many states have term limits (as opposed to being eligible for re-election) for governors to determine how changes in electoral incentives alter state regulatory agency behavior. This paper asks whether these impacts spill over into private sector decision-making. Using data from gubernatorial elections in the U.S., we find strong evidence that power plants spend less in water pollution abatement if the governor of the state where the plant is located is a term-limited democrat. We show that this evidence is consistent with compliance cost minimization by power plants reacting to changes in the regulatory enforcement. Finally, we show that the decrease in spending has environmental impacts as it leads to increased pollution

Transparent reporting of recruitment and informed consent approaches in clinical trials recruiting children with minor parents in sub-Saharan Africa: a secondary analysis based on a systematic review

BACKGROUND: Standardised checklists of items to be addressed in clinical study protocols and publications are promoting transparency in research. However, particular specifications for exceptional cases, such as children with minor parents are missing. This study aimed to examine the level of transparency regarding recruitment and informed consent approaches in publications of clinical trials recruiting children with minor parents in sub-Saharan Africa. We thereby focused particularly on the transparency about consenting persons (i.e. proxy decision-makers) and assessed the need to expand reporting guidelines for such exceptional cases. METHODS: We conducted a secondary analysis of clinical trial publications previously identified through a systematic review. Multiple scientific databases were searched up to March 2019. Clinical trial publications addressing consent and potentially recruiting children with minor parents in sub-Saharan Africa were included. 44 of the in total 4382 screened articles met our inclusion criteria. A descriptive analysis was performed. RESULTS: None of the included articles provided full evidence on whether any recruited children had minor parents and how consent was obtained for them. Four proxy decision-maker types were identified (parents; parents or guardians; guardians; or caregivers), with further descriptions provided rarely and mostly in referenced clinical trial registrations or protocols. Also, terminology describing proxy decision-makers was often used inconsistently. CONCLUSIONS: Reporting the minimum maternal age alongside maternal data provided in baseline demographics can increase transparency on the recruitment of children with minor mothers. The CONSORT checklist should require clinical trial publications to state or reference exceptional informed consent procedures applied for special population groups. A standardized definition of proxy decision-maker types in international clinical trial guidelines would facilitate correct and transparent informed consent for children and children with minor parents. STUDY REGISTRATION: CRD42018074220

pH-sensitive vibrational probe reveals a cytoplasmic protonated cluster in bacteriorhodopsin

Infrared spectroscopy has been used in the past to probe the dynamics of internal proton transfer reactions taking place during the functional mechanism of proteins but has remained mostly silent to protonation changes in the aqueous medium. Here, by selectively monitoring vibrational changes of buffer molecules with a temporal resolution of 6 µs, we have traced proton release and uptake events in the light-driven proton-pump bacteriorhodopsin and correlate these to other molecular processes within the protein. We demonstrate that two distinct chemical entities contribute to the temporal evolution and spectral shape of the continuum band, an unusually broad band extending from 2,300 to well below 1,700 cm−1. The first contribution corresponds to deprotonation of the proton release complex (PRC), a complex in the extracellular domain of bacteriorhodopsin where an excess proton is shared by a cluster of internal water molecules and/or ionic E194/E204 carboxylic groups. We assign the second component of the continuum band to the proton uptake complex, a cluster with an excess proton reminiscent to the PRC but located in the cytoplasmic domain and possibly stabilized by D38. Our findings refine the current interpretation of the continuum band and call for a reevaluation of the last proton transfer steps in bacteriorhodopsin

Finding an Effective Metric Used for Bijective S-Box Generation by Genetic Algorithms

In cryptography, S-box is a basic component of symmetric key algorithms which performs nonlinear substitution. S-boxes need to be highly nonlinear, so that the cipher can resist linear cryptanalysis. The main criteria for cryptographically strong (n × n) S-box are: • High non linearity; • High algebraic degree; • Balanced structure; • Good auto correlation properties. Our task was to give some suggestions for finding an effective metric used for generation bijective optimal S-Box. Because of the given problem’s complexity, our group considered different approaches and we gave a few suggestions for problem solving